{"id":5523,"date":"2025-02-18T17:51:35","date_gmt":"2025-02-18T17:51:35","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=5523"},"modified":"2025-02-18T17:51:36","modified_gmt":"2025-02-18T17:51:36","slug":"ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2025\/02\/18\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\/","title":{"rendered":"Ben Chow Steps Down as Meteora Co-Founder Amid LIBRA Scandal"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Ben Chow, co-founder of <strong>Solana-based decentralized exchange Meteora<\/strong>, has resigned following allegations that he privately <strong>received or managed LIBRA tokens<\/strong>. The resignation comes amid a growing controversy surrounding the <strong>LIBRA memecoin<\/strong>, which skyrocketed in value before collapsing, leading to accusations of <strong>insider trading and market manipulation<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Chow Steps Down as Investigation Begins<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Chow\u2019s resignation was announced by <strong>Meow<\/strong>, the pseudonymous co-founder of both <strong>Meteora and Jupiter<\/strong>, in a post on <strong>X (formerly Twitter)<\/strong>. Meow emphasized their commitment to <strong>transparency<\/strong> and reassured the community that <strong>neither project engaged in financial misconduct<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">To ensure accountability, the companies have enlisted <strong>Fenwick &amp; West, a respected legal firm<\/strong>, to conduct an <strong>independent investigation<\/strong> into the claims. Meow confirmed that the <strong>findings will be made public<\/strong> once the probe concludes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u201cMeteora has operated independently from Jupiter for over a year,\u201d<\/strong> Meow stated, clarifying that while Chow led Meteora, <strong>his decision-making in recent months had raised concerns<\/strong> regarding the project\u2019s core operations.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>LIBRA Memecoin Controversy and Market Manipulation Claims<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>LIBRA memecoin<\/strong>, which Chow was allegedly linked to, gained massive attention after <strong>Argentine President Javier Milei publicly promoted it<\/strong>. Following Milei\u2019s endorsement, LIBRA\u2019s value <strong>surged past $4<\/strong> before crashing to <strong>below 50 cents<\/strong>, leading to speculation of a <strong>\u201crug pull\u201d scam<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reports suggest that <strong>insiders may have cashed out over $100 million<\/strong>, while retail investors suffered substantial losses. The sharp decline in LIBRA\u2019s price has fueled allegations of <strong>market manipulation<\/strong>, adding further scrutiny to those associated with the token.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Political Fallout and Legal Actions<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The scandal has also ignited a <strong>political crisis in Argentina<\/strong>, with opposition leaders <strong>demanding Milei\u2019s resignation<\/strong> over his involvement with LIBRA. The country\u2019s <strong>Anti-Corruption Office<\/strong> has launched a review of the case, and <strong>Federal Judge Mar\u00eda Servini<\/strong> is now leading a legal probe into the matter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, in the broader crypto space, the LIBRA incident has once again <strong>highlighted the risks of memecoin speculation<\/strong>. On <strong>February 17<\/strong>, <strong>Binance co-founder Changpeng Zhao<\/strong> announced that he would donate <strong>150 Binance Coin (BNB)<\/strong> in an effort to compensate victims of the alleged scam.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Future Implications<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The LIBRA controversy has sent shockwaves through the crypto industry, raising concerns over <strong>insider trading, regulatory scrutiny, and the credibility of high-profile endorsements<\/strong>. As investigations unfold, the outcome of this case could shape the future of <strong>crypto governance and investor protection measures<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For now, Meteora moves forward without <strong>Ben Chow at the helm<\/strong>, as the community awaits the results of the <strong>independent audit<\/strong> into his alleged involvement with LIBRA.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ben Chow, co-founder of Solana-based decentralized exchange Meteora, has resigned following allegations that he privately received or managed LIBRA tokens. The resignation comes amid a growing controversy surrounding the LIBRA memecoin, which skyrocketed in value before collapsing, leading to accusations of insider trading and market manipulation. Chow Steps Down as Investigation Begins Chow\u2019s resignation was&#8230;<\/p>\n","protected":false},"author":3,"featured_media":5524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63],"tags":[44,119,121],"class_list":["post-5523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-business","tag-memecoin","tag-trade"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ben Chow Steps Down as Meteora Co-Founder Amid LIBRA Scandal - Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonewsdesk.com\/index.php\/2025\/02\/18\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ben Chow Steps Down as Meteora Co-Founder Amid LIBRA Scandal - Crypto News\" \/>\n<meta property=\"og:description\" content=\"Ben Chow, co-founder of Solana-based decentralized exchange Meteora, has resigned following allegations that he privately received or managed LIBRA tokens. The resignation comes amid a growing controversy surrounding the LIBRA memecoin, which skyrocketed in value before collapsing, leading to accusations of insider trading and market manipulation. Chow Steps Down as Investigation Begins Chow\u2019s resignation was...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonewsdesk.com\/index.php\/2025\/02\/18\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\/\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2025-02-18T17:51:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-18T17:51:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonewsdesk.com\/wp-content\/uploads\/2025\/02\/Untitled-design-85-1024x576.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Digital Vibe\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Digital Vibe\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptonewsdesk.com\\\/index.php\\\/2025\\\/02\\\/18\\\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptonewsdesk.com\\\/index.php\\\/2025\\\/02\\\/18\\\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\\\/\"},\"author\":{\"name\":\"Digital Vibe\",\"@id\":\"https:\\\/\\\/cryptonewsdesk.com\\\/#\\\/schema\\\/person\\\/56afc0b5a42e13762ccad410f131f96a\"},\"headline\":\"Ben Chow Steps Down as Meteora Co-Founder Amid LIBRA Scandal\",\"datePublished\":\"2025-02-18T17:51:35+00:00\",\"dateModified\":\"2025-02-18T17:51:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptonewsdesk.com\\\/index.php\\\/2025\\\/02\\\/18\\\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\\\/\"},\"wordCount\":422,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptonewsdesk.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptonewsdesk.com\\\/index.php\\\/2025\\\/02\\\/18\\\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptonewsdesk.com\\\/wp-content\\\/uploads\\\/2025\\\/02\\\/Untitled-design-85.png\",\"keywords\":[\"Business\",\"memecoin\",\"Trade\"],\"articleSection\":[\"Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptonewsdesk.com\\\/index.php\\\/2025\\\/02\\\/18\\\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptonewsdesk.com\\\/index.php\\\/2025\\\/02\\\/18\\\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\\\/\",\"url\":\"https:\\\/\\\/cryptonewsdesk.com\\\/index.php\\\/2025\\\/02\\\/18\\\/ben-chow-steps-down-as-meteora-co-founder-amid-libra-scandal\\\/\",\"name\":\"Ben Chow Steps Down as Meteora Co-Founder Amid LIBRA Scandal - 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